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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

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Friday, November 11, 2011

A Whole Lotta Charts...

Tonight's post shows a number of markets on the verge of a major push higher...many of them face considerable overhead resistance...time will tell if they will be successful or not...their Daily charts are as follows:

The US$ is sitting in a confluence zone of crossed regression channel lines and 50 sma (red)...near-term support lies at 76.70, followed by 76.00...will see how this trades on an inverse relationship to the above instruments.

In addition to the US$, the corresponding USD/CAD forex pair is showing a similar drop in price to prior support...it may be headed to the middle of an uptrending channel at around 1.0070.

We'll see what stories emanate from Europe next week and which way the wind blows these markets.

Again, I'll keep a close eye on the Financials...the 1-day 1-minute percentage comparison chart of the banks to XLF shows that JPM finished down on the day from the open, whereas the others finished up...one to watch, perhaps?